KARACHI : August 19,2022.. Amidst shedding of US dollar value , the gold prices also went down in the domestic market on Friday.
The gold prices reduced by Rs 1750 to take its per tola value (24 Karrate) down to Rs 142000.
According to All Pakistan Jewellers Manufacturers Association (APJMA) of Pakistan, the price of 10 gram gold (24 Karrate) reduced by Rs 1500 to take its rates down to Rs 121742 .
Gold was showing upward trend in the international market and so was going up in the domestic market .
Gold shed 18 US dollar in the global market .
Since now the international market is going downward , its value is also decreasing in the local market .
Meanwhile ,US dollar is also losing its value gradually in the local market . It closed at Rs 214.50 in interbank trading at the closing of the currency market on Friday.
APJMA chairman , Mohammad Arshad , foresees further reduction in gold rates in the coming days .
Speaking to NEWSMAN, Mr Mohamad Arshad said on Friday ” Gold is shedding value on daily basis as this trend is likely to continue in coming days “.
